Location: Calhoun County, FL | Metro: Calhoun County, FL
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $139,906 | 0.69% | D |
| 3BR | $1,270 | $224,716 | 0.57% | F |
| 4BR | $1,270 | $325,458 | 0.39% | F |
U.S. Census Bureau data (2024)
The market in ZIP 32421, Altha, FL, presents a dynamic environment where the Federal Market Rent (FMR) at $1,050 for the fiscal year 2026 exceeds the current market rent of $893 based on Census ACS data. This suggests that rental prices could be on an upward trajectory, aligning with the anticipated federal standards. The median home value stands at $197,186, indicating a relatively affordable residential market for potential homeowners.
The lack of data on price-cut share and days on market (DOM) makes it challenging to definitively conclude whether supply currently outpaces demand or vice versa. However, the fact that the FMR is higher than the market rent could imply that there is some upward pressure on rents, possibly due to a growing population or increasing demand for rentals.
The 16.3% renter share highlights a significant portion of the population that relies on rental housing. This figure points towards sustained long-term housing pressure, as a higher percentage of renters can often signal a market where owning a home is less accessible or desirable for a segment of the population. Landlords and small-portfolio investors should consider this as a stable indicator of demand for rental properties.
In summary, ZIP 32421 is characterized by a rental market that is below the projected federal standard, suggesting potential growth opportunities for landlords. The median home value indicates affordability for homeownership, while the renter share underscores a persistent need for rental units, which could translate into steady occupancy rates for property owners.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.